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May 2012 Federal Budget Update

Basics Budget surplus of $1.5 billion as promised, turnaround from $44 billion deficit in 2011/12 Asian led recovery due to strong growth on Australia's doorstep Families not companies to benefit from the mining boom through the Minerals Resource Rent Tax.…

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Minimum Pension Drawdown Details

Minimum Pension Drawdown Details The Government has announced a continuation of the 25% reduction in minimum pension payment amounts for the 2012/13 financial year. Generally the minimum pension payment amount will be reduced by 25% for clients who have nominated…

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Budget 2011 Highlights

The Government is going ahead with plans to exempt up to $500 of interest income from tax. In a bid to crack down on income splitting, children will no longer receive the low income tax offset for unearned income (subject…

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